More than 65% of New York City residents are renters, so whether it is your first time searching for an apartment or the 10th, you are not alone. Our guide to renting in NYC shares everything you need to know about the ins and outs of renting, from how much rent you can afford to tips for breaking a lease (hey, it happens!).
Other topics covered in this guide to renting in NYC include how to go about finding the best apartment for you (and roommates if you need them), what to expect at a lease signing, paperwork and fees you'll need to rent a place, whether you should use a broker, and much more.
Ready to search for your new apartment? Start here.
Apartment hunting in New York City can be complicated thanks to NYC real estate-specific jargon. One such term you’ve likely come across is “no-fee apartment.” What does that mean? Well, using a broker to help you find a rental is standard ― but it’s not free. Typically, someone has to pay for the broker’s services, and in NYC, who pays that fee can vary from apartment to apartment. Here’s everything you need to know about no-fee apartments in NYC.
Table of Contents
Manhattan Rentals Under $3,000 on StreetEasyArticle continues below
Upper West Side
211 West 80th Street
$2,379No Fee
Studio |
1
Hamilton Heights
267 Edgecomb Avenue
$2,600No Fee
1 |
1
East Village
214 East 10th Street
$2,745No Fee
1 |
1
Yorkville
337 East 85th Street
$2,495No Fee
Studio |
1
Lenox Hill
404 East 73rd Street
$2,000No Fee
Studio |
1
Hudson Heights
12 Pinehurst Avenue
$2,200No Fee
1 |
1
Washington Heights
540 West 165th Street
$2,576No Fee
3 |
1
Murray Hill
647 Second Avenue
$2,795No Fee
Studio |
1
Hell’s Kitchen
646 Tenth Avenue
$2,900No Fee
1 |
1
Lenox Hill
542 East 79th Street
$2,450No Fee
Studio |
1
Greenwich Village
60 West 8th Street
$2,900No Fee
Studio |
1
East Harlem
127 East 102nd Street
$2,100No Fee
1 |
1
What Is a No-Fee Apartment Listing?
When searching for a place, you’ll likely come across apartment listings that loudly declare “no fee!” You’ll also encounter many listings that don’t. So what’s the difference?
In very basic terms, a no-fee apartment is an apartment where the tenant doesn’t pay a commission or broker fee. But, like so many things in NYC real estate, there’s more to know.
Brooklyn Rentals Under $3,000 on StreetEasyArticle continues below
Flatbush
204 Linden Boulevard
$2,589No Fee
1 |
1
Prospect Heights
200 Sterling Place
$2,500No Fee
1 |
1
East New York
2840 Atlantic Avenue
$2,140No Fee
Studio |
1
Brooklyn Heights
120 Montague Street
$2,750No Fee
Studio |
1
East Flatbush
1249 New York Avenue
$2,399No Fee
1 |
1
East Flatbush
3415 Farragut Road
$2,499No Fee
1 |
1
Flatbush
179 Martense Street
$2,400No Fee
1 |
1
Cypress Hills
2715 Fulton Street
$2,950No Fee
2 |
1
Flatbush
1250 New York Avenue
$2,499No Fee
1 |
1
East Flatbush
84 East 52nd Street
$2,975No Fee
3 |
1.5
Flatbush
2801 Tilden Avenue
$2,517No Fee
1 |
1
Cypress Hills
2715 Fulton Street
$2,900No Fee
2 |
1
What’s the Difference Between Broker Fees and Commissions?
“The terms ‘broker fee’ and ‘commission’ are interchangeable,” says Becki Danchik, a StreetEasy Expert and broker with Coldwell Banker Warburg. “It’s the fee a broker earns on completing a transaction in which they match the right person with the right property. A no-fee apartment is typically when the landlord has agreed to pay that fee to the exclusive listing agent on behalf of the tenant.” A landlord will usually do this in the hope of securing a tenant quickly, she explains.
Landlords Have Brokers
Keep in mind, though, that “no fee” applies only to the landlord’s broker, also known as the listing agent, and landlords are not required to cover that cost (more on this shortly). Here’s how it works: if you approach an apartment’s listing agent directly and secure the no-fee apartment on your own, then great — you don’t pay a fee! But if you enlisted the services of a broker (who is not the listing agent), and you found that apartment through that broker, you owe them their commission, whether the apartment says “no fee” or not.
Queens Rentals Under $3,000 on StreetEasyArticle continues below
Rego Park
64-35 Dieterle Crescent
$2,795No Fee
2 |
2
Richmond Hill
95-24 101st Street
$1,800No Fee
1 |
1
Ditmars-Steinway
21-38 Crescent Street
$2,263No Fee
1 |
1
Astoria
34-42 28th Street
$2,900No Fee
2 |
1
Astoria
30-15 42nd Street
$2,200No Fee
2 |
1
Richmond Hill
87-60 113rd Street
$1,875No Fee
1 |
1
Sunnyside
44-15 43rd Avenue
$2,900No Fee
2 |
1
Forest Hills
102-17 64 Road
$2,000No Fee
1 |
1
Kew Gardens
132-77 Metropolitan Avenue
$2,750No Fee
1 |
1
Forest Hills
73-20 Austin Street
$2,500No Fee
1 |
1
Astoria
32-52 35th Street
$2,600No Fee
2 |
1
Astoria
30-19 30th Avenue
$2,200No Fee
1 |
1
What Is a Broker Fee?
Now that you understand the definition of no-fee apartment, you’d probably like to know how apartments with fees work. In short, renters who use a broker to find an apartment have to pay a broker fee. If you hire a broker who successfully finds you an apartment, they’ll earn an agreed-upon commission on the deal.
How Much Are Broker Fees for Renters?
The cost varies by broker and area. For instance, fees charged for Manhattan rentals may be more expensive than units in Queens, which has a lower median asking rent. Broker fees are somewhat negotiable, but generally, it’s either one month’s rent or up to 15% of the unit’s annual rent. That’s on top of paying your first month’s rent and security deposit. FYI: your security deposit can’t be more than one month’s rent.
Wait, Weren’t Broker Fee Abolished?
New York State changed the broker fee regulations with the Statewide Housing Security & Tenant Protection Act of 2019. The guidance issued stated that a prospective tenant can’t compensate a landlord’s agent (aka listing agent). It would have been a substantial cost-saving measure for future renters ― but a judge struck it down in April 2021, ruling that the state misinterpreted the act.
Sample Move-In Costs with a Broker’s Fee
Property owners or management companies will often ask for first month’s rent and a security deposit, in addition to the broker’s fee, before you can move in to a new apartment. Here is the estimated cost breakdown for a $3,799/month (NYC’s median asking rent as of July 2023 — to see the latest median asking rent for a particular neighborhood, visit our StreetEasy Data Dashboard) apartment with a 12 percent broker’s fee (percentage of total annual cost) — before even moving in!
Move-in costs for $3,799/month apartment
First month
$3,799
Security deposit
$3,799
Broker’s fee (12%)
$5,470.56
Total
$13,068.56
Hoboken Rentals Under $3,000 on StreetEasyArticle continues below
Hoboken
908 Willow Avenue
$2,650No Fee
1 |
1
Hoboken
162 6th Street
$2,480No Fee
Studio |
1
Hoboken
762 Jackson Street
$2,973No Fee
Studio |
1
Hoboken
130 Madison Street
$2,350No Fee
1 |
1
Hoboken
360 14th Street
$2,500No Fee
1 |
1
Hoboken
1026 Washington Street
$2,400No Fee
Studio |
1
Hoboken
611 Bloomfield Street
$2,300No Fee
Studio |
1
Hoboken
86 Monroe Street
$2,700No Fee
1 |
1
Hoboken
318 Jefferson Street
$2,130No Fee
1 |
1
Hoboken
108 1st Street
$2,600No Fee
1 |
1
Hoboken
111 Bloomfield Street
$2,975No Fee
1 |
1
Hoboken
106 11th Street
$2,500No Fee
1 |
1
How to Find a No-Fee Apartment in NYC
You’ve decided you want to avoid paying a broker fee. Now, you’re probably wondering how to find a no-fee apartment. Here are a few options:
Use the no-fee apartment filter on StreetEasy: You can easily check the “no-fee only” box during your StreetEasy search to yield only apartment options without a broker fee. It will narrow your search to only those units.
Look for apartments listed by owners or management companies: A management rep is essentially an in-house broker — their goal is to find ideal tenants for their apartments. So, if you contact them directly, there shouldn’t be a fee. Just remember, property management companies rent apartments only in their specific buildings. Brokers, on the other hand, can have access to rentals in a variety of places.
Walk around the neighborhood: If you know the neighborhood you’re interested in, walk around it to see if buildings have posted listing signs. They should have the landlord or management company’s contact information. Call them and see if there are apartments available or if any are coming up.
Jersey City Rentals Under $3,000 on StreetEasyArticle continues below
Jersey City
10 Crossgate Road
$2,800No Fee
3 |
1
Jersey City
30 Regent Street
$2,640No Fee
Studio |
1
Jersey City
30 Regent Street
$2,660No Fee
Studio |
1
Historic Downtown
342 4th Street
$2,050No Fee
Studio |
1
West Side
271 Sip Avenue
$2,300No Fee
1 |
1
Historic Downtown
180 10th Street
$2,675No Fee
Studio |
1
Jersey City
161 Van Wagenen Avenue
$2,285No Fee
Studio |
1
Jersey City
161 Van Wagenen Avenue
$2,695No Fee
1 |
1
Jersey City
161 Van Wagenen Avenue
$2,610No Fee
1 |
1
Jersey City
161 Van Wagenen Avenue
$2,250No Fee
Studio |
1
Jersey City
158 Linden Avenue
$1,900No Fee
2 |
1
Journal Square
128 Corbin Avenue
$1,950No Fee
1 |
1
Do No-Fee Apartments Save You Money?
Surface level, it seems that no-fee apartments would be less expensive to rent than fee apartments. But there is some debate as to whether no-fee rentals save renters money, particularly when it comes to luxury rentals. Many buildings like these are no-fee, but cost much more per month because they have desirable amenities such as doormen, fitness centers, and outdoor space. It’s also possible that for a no-fee apartment, the broker fee is baked into your rent and you end up paying more per month — but it still saves you on upfront move-in costs.
Whatever you decide, be sure to search for your dream rental on StreetEasy!